#ZachXBT Removes Liquidity Pool#
Hot Topic Overview
Overview
The recent removal of liquidity from the ZachXBT (ZACHXBT) token by on-chain detective ZachXBT has sparked controversy. The incident began when ZachXBT received 500 million ZACHXBT tokens (representing 50% of the total supply) and used them to add one-sided liquidity to the ZACHXBT/SOL pair. Subsequently, ZachXBT withdrew approximately 91.19 million ZACHXBT and 15,000 SOL from the liquidity pool and transferred 16,348 SOL to Wintermute. This series of actions led to a significant drop in the ZACHXBT price, with its market capitalization plummeting from approximately $97 million to $19 million. The incident has raised questions about whether ZachXBT exploited his influence to cash out, highlighting the high risk and volatility of the meme coin market.
Ace Hot Topic Analysis
Analysis
ZachXBT's removal of liquidity from the pool has sparked widespread attention. The incident was triggered by the creation of a token called ZACHXBT, with 500 million ZACHXBT (50% of the total supply) being transferred to ZachXBT's wallet. Subsequently, ZACHXBT's market capitalization skyrocketed from $8 million to $80 million. Faced with this sudden wealth, ZachXBT chose to extract 16,059 SOL ($3.81 million) from the pool by adding and removing liquidity, and subsequently transferred 16,348 SOL ($3.87 million) to Wintermute. This move has generated controversy, with some arguing that ZachXBT should only earn transaction fees instead of cashing out, while others contend that it reflects the true nature of the on-chain dark jungle, where even prominent on-chain detectives like ZachXBT choose to cash out first when faced with temptation.